The amount of gold jewelry and other products is measured
in karats (K), where 24K represents pure gold. The mark 14K
on a chain indicates that the ratio between the mass of the
gold in the chain and the mass of the chain is 14:24 If a gold
ring is marked 18K and it weighs 0.4 oz, what is the value of
the gold in the ring if pure gold is valued at $300 per oz?